Increase in Housing Supply in the Third Week of February Despite COVID-19 Concerns

February Third Week Sales Schedule (Source: Real Today)

[Asia Economy Reporter Donghyun Choi] In the third week of this month, a total of 3,898 households (including officetels and rental units) nationwide will be offered for sale. Despite ongoing concerns about the novel coronavirus (COVID-19), the backlog of supply is gradually being released, signaling the start of the full-fledged spring sales season.

According to real estate research firm Real Today on the 16th, in the third week of this month, first-priority subscription applications will be accepted for a total of 3,898 households (including officetels and rentals, excluding urban lifestyle housing and happy housing) across five locations nationwide. Winner announcements will be made for four locations, and official contracts will proceed at four locations. Model houses will open at five locations nationwide.

Yurim E&C will accept first-priority subscription applications on the 19th for ‘Yangju Okjeong Yurim Norway Forest’ located in Block A-20(1) of Okjeong New Town, Yangju, Gyeonggi Province. The complex consists of 14 buildings, ranging from 72 to 84㎡ (exclusive area), with a total of 1,140 households, from two basement floors to 35 floors above ground. All units feature a 4-bay slab-type layout and three-sided balcony extensions (except for 72㎡), supplied as small to medium-sized expanded floor plans.

GS Construction will launch the supply of ‘Gwacheon Jade Xi’ on the 21st, located in Block S9 of Gwacheon Knowledge Information Town, Gwacheon City, Gyeonggi Province. The complex consists of seven buildings, ranging from 49 to 59㎡, with a total of 647 households, from two basement floors to a maximum of 25 floors above ground. Due to COVID-19, the model house will be replaced by a cyber model house without an on-site opening.

HDC Hyundai Development Company will also open the model house for ‘Sokcho 2nd I-Park’ on the 21st, located at 415 Joyang-dong, Sokcho City, Gangwon Province. The complex consists of six buildings, ranging from 79 to 156㎡, with a total of 578 households, from two basement floors to 29 floors above ground. The area near the complex is scheduled for development of the Sokcho Station area spanning 0.72㎢, coinciding with the opening of the Dongseo High-Speed Railway Sokcho Station, enhancing its future value.